EUR/USD rises above 1.1500 as US Dollar declines, possibly due to a technical pullback
- EUR/USD advances as the US Dollar may regain its ground amid increased safe-haven demand.
- The US Senate Intelligence Committee Chair said that President Trump will give Iran the final chance to end its nuclear program.
- ECB President Lagarde noted that rate cuts are nearing an end.
EUR/USD continues its winning streak for the third successive day, trading around 1.1520 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) loses ground, possibly driven by a technical pullback. The US Dollar could recover on heightened safe-haven demand, driven by rising concerns over potential US involvement in the Israel-Iran air war.
According to senior US intelligence officials cited by The New York Times, Iran has yet to decide whether to make a nuclear weapon, even though it has developed a large stockpile of the enriched uranium necessary to make a bomb.
Meanwhile, the US Senate Intelligence Committee Chair said that US President Donald Trump will offer Iran the final chance to make a deal to end its nuclear program. Trump would likely delay his final decision on launching strikes for up to two weeks.
The Federal Reserve's (Fed) Monetary Policy Report, scheduled for release on Friday, will be submitted to Congress. Traders would likely gauge the report as it contains discussions of "the conduct of monetary policy and economic developments and prospects for the future."
The EUR/USD pair also gains ground as the Euro (EUR) receives support from the hawkish tone surrounding the European Central Bank’s (ECB) policy outlook. ECB President Christine Lagarde noted that rate reductions are coming to an end as the central bank is now “in a good position” to deal with prevailing uncertainties.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.25% | -0.18% | -0.17% | -0.15% | -0.27% | -0.10% | -0.04% | |
| EUR | 0.25% | 0.03% | 0.07% | 0.10% | 0.13% | 0.16% | 0.22% | |
| GBP | 0.18% | -0.03% | 0.12% | 0.07% | 0.10% | 0.12% | 0.18% | |
| JPY | 0.17% | -0.07% | -0.12% | 0.07% | -0.12% | -0.08% | 0.07% | |
| CAD | 0.15% | -0.10% | -0.07% | -0.07% | -0.09% | -0.19% | 0.11% | |
| AUD | 0.27% | -0.13% | -0.10% | 0.12% | 0.09% | 0.30% | 0.08% | |
| NZD | 0.10% | -0.16% | -0.12% | 0.08% | 0.19% | -0.30% | 0.06% | |
| CHF | 0.04% | -0.22% | -0.18% | -0.07% | -0.11% | -0.08% | -0.06% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Akhtar Faruqui
FXStreet
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
